Bending Spoons IPO prices above range at $18.4 billion valuation

Bending Spoons, the Italian institution that owns AOL, Vimeo, and Evernote, priced its Nasdaq IPO astatine $29 per stock connected Wednesday, supra its marketed scope of $26 to $28, valuing the institution astatine astir $18.4 billion.

A full of astir 58 cardinal shares changed hands betwixt the institution and selling shareholders, generating proceeds of $1.68 billion. Demand came from some returning and first-time investors successful the deal, according to an anonymous root astatine 1 of the pb underwriting banks who spoke to Reuters.

Indicative pricing up of Wednesday's unfastened enactment the shares astatine $33, which would spot the company's marketplace worth astatine astir $21 billion. The shares volition commercialized connected the Nasdaq nether the ticker awesome "BSP."

The institution was founded successful 2013 by main enforcement serviceman Luca Ferrari and co-founders Matteo Danieli, Francesco Patarnello, and Luca Querella aft a erstwhile startup, a integer diary app called Evertale, failed. When Evertale coiled down, it near down $40,000, which the founders channeled into their adjacent venture. All 4 are present billionaires with nett worths exceeding $2 cardinal each, according to Bloomberg.

According to its IPO filing, the institution has built its portfolio done upward of 50 deals and has compiled a ticker database of much than 1,000 businesses it views arsenic candidates for aboriginal purchases. Its strategy involves acquiring integer businesses, reducing costs, and deploying its engineering squad to amended the products. Its portfolio includes AOL, which it acquired for $1.45 cardinal successful January, on with Vimeo, Eventbrite, Evernote, StreamYard, WeTransfer, and Brightcove, among others.

Revenue grew from $387 cardinal successful 2023 to $1.31 cardinal successful 2025, the institution said. Bending Spoons reported nett income of $161 cardinal successful 2023 and $89 cardinal successful 2024, earlier swinging to a nett nonaccomplishment of astir $200,000 successful 2025.

How the banal performs volition connection a work connected whether bundle companies tin pull buyers successful a marketplace wherever the assemblage has had small practice among caller listings this year. The debut arrives connected the heels of a record-setting agelong for U.S. caller issues, with $130 cardinal raised successful the archetypal six months of 2026, a fig boosted importantly by SpaceX's blockbuster offering, The Wall Street Journal reported.

Once the offering closes, the 4 co-founders volition clasp exclusive ownership of the company's people A shares and bid astir 82.71% of its full voting power, according to the IPO filing.